2007: Naidoo next remarked on the potential of the banking sector and the reforms taking place in Nigeria that consolidated that country’s 85 banks into 25. He noted that only 10% of Nigerians were banked.

2012: Five years later, and 36% of the Nigerian population is now served by the formal financial sector. Analysts at Bain Capital expect the sub-Saharan banking industry to continue growing at 15% annually all the way to 2020.